The noted management guru, Peter Drucker, famously stated that “Because the purpose of business is to create a customer, the business enterprise has two–and only two–basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs.” Consequently, MAR 301 focuses on how organizations can create value through strategic and innovative marketing practices.

MAR 301 provides an introduction to the Marketing business function. The purpose of the course is to develop an understanding of how companies use marketing frameworks to create value for their stakeholders, e.g., customers, shareholders, and employees. Key marketing concepts and terminology will be presented, enabling you to better understand how marketing decisions are implemented in practice.

You will gain an appreciation for the philosophy and process of marketing and the impact it has on business, society, and life in general. In addition, you will be able to analyze how customers make purchase decisions and recognize how marketing strategies and tactics influence consumer behavior. You will also understand how marketing managers use an integrated marketing mix (Product, Promotion, Pricing, and Place) to create competitive advantage.

To achieve these objectives, we will use a variety of pedagogical techniques including lectures, class discussions and hands-on exercises. Also, I expect you to share your own “customer” experiences.

By the end of this course, you should be able to:

• Know marketing concepts and strategies.
• Recognize the importance of customer needs and wants as the foundation for marketing decision-making.
• Understand the processes and techniques used in marketing decision-making.
• Understand how value is created by the marketing of goods and services.
• Recognize the complexity of marketing decision making in light of economic, societal, and ethical demands.
• Comprehend the opportunities and challenges offered by international marketing.